Commercial Real Estate

A week after local developers detailed their plans for a large air sports park in Short Pump, a competitor unveiled a Richmond expansion plan of its own. Jumpology, a national company that operates an indoor trampoline park near Virginia Center Commons, is in negotiations with the owners of Regency Square to potentially relocate to 40,000… Read more »

Richmond’s newest office tower can stand a little taller. Gateway Plaza, the 18-story building completed last year at 120 S. Ninth St. by Chicago-based developer Clayco, was named Project of the Year at the Greater Richmond Association for Commercial Real Estate’s 15th annual awards ceremony Tuesday evening. Held at The Country Club of Virginia, the… Read more »

One month after selling its sole property in Richmond, a Northern Virginia-based real estate group has decided it wants back in on the market. Gainesville-based MBI-R1 LLC has purchased the 98-unit Hampstead Apartments at 2340 Hampstead Ave., off West Broad Street just west of Libbie Avenue. The off-market sale, totaling $5.8 million, closed March 24…. Read more »

A Maryland firm has purchased its first Richmond area shopping center and has its sights set on another. M. Leo Storch Management Corp. out of Baltimore last month bought Laburnum Station at 4420 S. Laburnum Ave., near the Shops at White Oak Village, for $5.29 million. Bruce Levine, Storch’s director of commercial real estate, said… Read more »

The developers of a 75-acre mixed-use project in Short Pump have tied down another tenant. Starbucks finalized a lease last week to take 2,000 square feet in Markel | Eagle’s GreenGate development, which is taking shape along West Broad Street, just west of Short Pump Town Center. The coffee shop’s building is being designed by… Read more »

Less than two weeks after purchasing the loan on a stalled high-end Libbie Avenue condo project, the property’s former contractor is quickly pushing to foreclose. The long-delayed Tiber development at Libbie and Guthrie avenues is scheduled for an April 26 foreclosure auction on the steps of the Richmond Circuit Court at 10 a.m., according to… Read more »

The evolution of West Creek Business Park continues. The 3,500-acre park in eastern Goochland County is adding more apartments to the mix with last week’s approval of a conceptual master plan for the 373-unit Bristol at West Creek. Tennessee-based Bristol Development Group is developing the project on 22.5 acres at the interchange of West Creek… Read more »

With home sales beginning and construction on its apartments set to commence, a massive mixed-use development is losing an anchor tenant. Southern Season announced Monday it plans to close its 53,000-square-foot gourmet foods store at 2250 Staples Mill Road in the Libbie Mill Midtown development. Southern Season’s in-store restaurant, Southerly, closed yesterday, as did its deli… Read more »

Exactly 100 years after its construction, a redeveloped downtown building is beginning a new era. The four-story building at 523 E. Main St., at the corner of Main and South Sixth streets, reopens this Friday as Centennial apartments – the name a nod to the building’s 1916 construction. The 24-unit building with ground-floor retail space… Read more »

A retail strip just east of Innsbrook is headed to the auction block. The Lexington Commons Shopping Center at 10156-10192 W. Broad St. is scheduled for a May 5 foreclosure auction on the steps of the Henrico County Circuit Court at 11 a.m. The foreclosure was prompted by a default on a $5.61 million loan… Read more »